Keller Group PLC Directorate Change (0231N)
20 September 2019 - 8:01AM
UK Regulatory
TIDMKLR
RNS Number : 0231N
Keller Group PLC
20 September 2019
20 September 2019
Keller Group plc
Directorate Change
Keller Group plc ("Keller" or the "Company") announces that
Alain Michaelis has decided to step down as Chief Executive Officer
("CEO") and as a Director of the Company from 30 September 2019, by
mutual agreement with the Board. Michael ("Mike") Speakman, Chief
Financial Officer ("CFO") will become Interim CEO from 1 October
2019.
Alain will remain available to the Company until the end of 2019
to ensure an orderly handover. Mark Hooper, Group Financial
Controller, will become Interim CFO. Mark will not join the Board
but will attend all Board and Audit Committee meetings.
Peter Hill, Chairman of Keller, said "Alain has done a
tremendous job over the last four years. The Board and I would like
to thank him for his enormous contribution in evolving Keller into
the more integrated and professional organisation it is today and
overseeing what will be the transformation of Keller North America.
Having provided these foundations for Keller's future success,
Alain has decided now is the right time to step down and allow his
successor to lead the next stage of Keller's development. The Board
looks forward to working with the executive team as we focus even
harder on driving financial performance and growing shareholder
value."
Alain commented "It has been a privilege to lead this great and
unique company through an important phase of our evolution. I wish
all those in the whole Keller community the best for the
future."
The process of recruiting Alain's successor will now commence
and will be led by the Nominations Committee.
For further information, please contact:
Keller Group plc www.keller.com
Peter Hill, Chairman 020 7616 7575
Michael Speakman, Interim CEO
Caroline Crampton, Head of Investor Relations
Finsbury
Gordon Simpson 020 7251 3801
James Kavanagh
This announcement contains inside information for the purposes
of Market Abuse Regulation (Regulation (EU) No. 596/2014). Upon
publication of this announcement, this inside information is now
considered to be in the public domain. Announcement classification:
3.1 Additional regulated information required to be disclosed under
the laws of a Member State. The person responsible for making this
announcement is Kerry Porritt, Group Company Secretary and Legal
Advisor.
LEI: 549300QO4MBL43UHSN10
Notes to editors:
On appointment as Interim CEO, Mike Speakman will receive an
annual salary of GBP500,000, lower than that of Alain Michaelis but
otherwise with similar terms and conditions. Mike Speakman's annual
bonus entitlement for 2019 will reflect his salary earned over
2019. No additional LTIP awards will be made to Mike in 2019 - he
will be eligible to receive an LTIP award in 2020 in accordance
with the Directors Remuneration Policy. Full details will be set
out in Keller's 2019 Annual Report. As required by section 430(2b)
of the Companies Act 2006, the Company will in due course publish
details of Alain Michaelis's termination payments, which will be in
accordance with his Service Agreement and Keller's Remuneration
Policy.
About Keller:
Keller is the world's largest geotechnical specialist contractor
providing a wide portfolio of advanced foundation and ground
improvement techniques used across the entire construction sector.
With around 10,000 staff and operations across six continents,
Keller tackles an unrivalled 7,000 projects every year, generating
annual revenues of more than GBP2bn.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
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contact rns@lseg.com or visit www.rns.com.
END
BOALLFVEAEIALIA
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